Marketing City

Challenges For Tomorrows Global Marketing Leaders

By SiliconIndia   |   Thursday, August 30, 2012
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Bangalore: CMOs are trying hard to acquaint with a new world which has changed over the course of their careers. Advanced digital technologies and new expectation from global consumers force the firms to adjust and to bring innovation. This is reported by Freddie Laker, VP of global marketing strategy, and Hilding Anderson, research and insights director from SapientNitro in Forbes.

SapientNitro made an effort to understand the impact of the changes in large global organization. And the outcome they got is 15percent of senior marketers prepared to deal with the changed consumers and 8percent say that agencies are succeeding in their support of global brands.

CMO Global Marketing Readiness Study- a six month research identified 5 challenges.

1. Troublesome technologies:
The new technologies like social media & mobile apps are some of the disturbing technologies for which senior marketing professionals are ill prepared. Only 20 percent of them count themselves under "very knowledgeable Techie". And by 2017 they will buy more technology than their CIO according to Gartner. The investment scale must be at a global level within the organization, yet be mindful of local market requirements. This challenge indicates the need of a technology-savvy global CMO.

2. Global Consumers:
The new class consumers are skilled with the ever present technology & changed the rule of marketing. This research says that 82 percent of senior marketers agreed that the barriers between global and local marketing is broken because of interconnected consumers. The core challenge associated with global marketing is to deliver relevant messages to the local market.
But in this age where one country's assets are rapidly shared around the world, the challenge is to give global consumers a delicate balance of local, regional and global campaigns - simultaneously.

3. Revisited Localization:
Managing with the mixture of "global consumers" that also has strong regional subcultures is a challenge for 75 percent of senior marketers. According to a Millward Brown study the ads that tested exceptionally well in one country, did equally well in another country - raising real questions about the cost efficiencies of cross-border campaigns. These growing tensions between local, global roles and authority within the organization become a challenge for 82percent of senior marketers.

4. Multi Channels:
37 percent of senior marketers deny the fact that their marketing activities are fully integrated across digital and traditional channels. The opportunity for increasing revenues from multi-channel consumers needs investments in digital experiences. And senior marketers need to adopt the global mindset.

5. Organization Structure:
Executive officers like CMO, CEO and CTO claim an interest in the area of digital experience, leading to a failure to organize efficiently for the new global marketing environment. And this research shows that 56 percent of marketers say that coordination between digital and traditional marketing teams is more challenging.

These trends say that global leaders with global mindset are rising.

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